Pure Storage (PSTG) Getting Positive Media Coverage, Study Shows
Media headlines about Pure Storage (NYSE:PSTG) have been trending positive on Monday, according to Accern. Accern ranks the sentiment of press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Pure Storage earned a daily sentiment score of 0.28 on Accern’s scale. Accern also gave media stories about the technology company an impact score of 44.7227102942654 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news articles that may have impacted Accern Sentiment Analysis’s analysis:
- Pure Storage, Inc. :PSTG-US: Earnings Analysis: Q2, 2018 By the Numbers : September 8, 2017 (finance.yahoo.com)
- Pure Storage Inc (PSTG) Seeing Increased Volatility in Session – Financial News Review (finnewsreview.com)
- Insider Selling: Pure Storage, Inc. (PSTG) CFO Sells 55,000 Shares of Stock (americanbankingnews.com)
- Financial Survey: Pure Storage (PSTG) and Tintri (TNTR) (americanbankingnews.com)
Shares of Pure Storage (PSTG) opened at 14.42 on Monday. The stock has a 50 day moving average price of $13.28 and a 200 day moving average price of $11.95. The stock’s market capitalization is $3.02 billion. Pure Storage has a 1-year low of $9.12 and a 1-year high of $15.14.
Pure Storage (NYSE:PSTG) last posted its earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. The company had revenue of $224.50 million during the quarter, compared to the consensus estimate of $217.97 million. Pure Storage had a negative net margin of 29.55% and a negative return on equity of 46.12%. The firm’s quarterly revenue was up 37.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.16) earnings per share. Equities research analysts anticipate that Pure Storage will post ($0.21) EPS for the current year.
PSTG has been the topic of several analyst reports. J P Morgan Chase & Co upped their price objective on Pure Storage from $10.50 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, May 25th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $13.50 price objective on shares of Pure Storage in a research report on Friday, August 25th. Morgan Stanley cut Pure Storage from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $17.00 to $12.00 in a research report on Thursday, May 18th. JMP Securities set a $16.00 price objective on Pure Storage and gave the company a “buy” rating in a research report on Friday, May 26th. Finally, ValuEngine raised Pure Storage from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $15.61.
In related news, Director Michelangelo Volpi sold 35,673 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $13.03, for a total transaction of $464,819.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Riitters sold 55,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $14.82, for a total transaction of $815,100.00. Following the transaction, the chief financial officer now owns 332,200 shares of the company’s stock, valued at $4,923,204. The disclosure for this sale can be found here. Insiders have sold 2,343,160 shares of company stock valued at $30,911,463 over the last 90 days. 46.58% of the stock is currently owned by insiders.
Pure Storage Company Profile
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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